MIAMI, April 14 /PRNewswire/ -- Pacer Health Corporation, a Miami-based firm specializing in the acquisition and management of financially distressed businesses announced today that it has completed a transaction with YA Global Investments, L.P., acquiring $11.7 million in convertible debentures. The transaction brings five additional companies into the Pacer portfolio and continues Pacer along its strategic path of diversifying into industries outside the healthcare arena.
"This transaction is similar to the transaction Pacer entered into last May which allowed the Company to acquire Cargo Connection Logistics Corp. and expand our turnaround management expertise into the distribution and logistics industry," said Rainier Gonzalez, chairman and chief executive officer.
The debentures, belonging to 5G Wireless Communications, Inc., Connected Media Technologies, Inc., Ei3 Corporation, EYI Industries, Inc. and ICOA, Inc., were assigned to Pacer as a result of the transaction.
5G Wireless Communications, Inc. develops and manufactures indoor and outdoor base stations for broadband wireless networks based on the 802.11 or Wi-Fi standard.
Connected Media Technologies, Inc. is a sales and marketing company that offers digital services across media platforms, including print, television, radio, and the internet, to name a few.
Ei3 Corporation is an internet services company that creates and hosts remote monitoring applications for enterprise customers.
EYI Industries, Inc. markets nutritional supplements through an extensive distribution and sales network. The company sold over 6 million bottles of their flagship product, CALORAD(R), since they began in 1995.
ICOA, Inc. installs and operates wireless broadband (Wi-Fi) hotspots in high-traffic public areas across the United States. The company has more than 900 network installations in 44 states.
"This assignment demonstrates our continued commitment to diversify our company and ability to continue to expand our holdings," said Mr. Gonzalez.
About Pacer Health Corporation
Pacer Health Corporation is a company that focuses on financially distressed businesses in all market segments. Pacer owns acute care hospitals and medical treatment facilities; a distribution and logistics company with locations throughout the United States; and, credit facilities for several companies across multiple industry lines. Please visit http://www.pacerco.com for more information.
Certain statements and information included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company undertakes no duty to update its forward- looking statements, including its long-term growth targets.
|SOURCE Pacer Health Corporation|
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